Ensign Peak Advisors Inc Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

Ensign Peak Advisors Inc lessened its holdings in shares of Edwards Lifesciences Co. (NYSE:EW - Free Report) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,736 shares of the medical research company's stock after selling 10,950 shares during the period. Ensign Peak Advisors Inc's holdings in Edwards Lifesciences were worth $15,675,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Edwards Lifesciences by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 69,132,036 shares of the medical research company's stock worth $5,117,845,000 after acquiring an additional 6,537,494 shares during the period. Wellington Management Group LLP grew its stake in Edwards Lifesciences by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 33,210,879 shares of the medical research company's stock worth $2,458,601,000 after purchasing an additional 1,678,154 shares in the last quarter. Geode Capital Management LLC increased its holdings in Edwards Lifesciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 13,647,341 shares of the medical research company's stock worth $1,007,520,000 after purchasing an additional 126,194 shares during the period. Fisher Asset Management LLC raised its position in Edwards Lifesciences by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,775,276 shares of the medical research company's stock valued at $723,664,000 after purchasing an additional 696,965 shares in the last quarter. Finally, Norges Bank bought a new stake in Edwards Lifesciences during the 4th quarter valued at $610,895,000. Institutional investors own 79.46% of the company's stock.

Edwards Lifesciences Stock Performance

Shares of Edwards Lifesciences stock traded up $0.04 during midday trading on Thursday, hitting $76.79. The company had a trading volume of 4,508,636 shares, compared to its average volume of 5,070,721. The company has a fifty day simple moving average of $71.73 and a 200 day simple moving average of $71.62. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 4.82 and a beta of 1.12. The company has a quick ratio of 2.89, a current ratio of 3.46 and a debt-to-equity ratio of 0.06. Edwards Lifesciences Co. has a 12-month low of $58.93 and a 12-month high of $95.25.

Edwards Lifesciences (NYSE:EW - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.40 billion. Edwards Lifesciences had a net margin of 72.93% and a return on equity of 19.40%. The business's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. As a group, analysts predict that Edwards Lifesciences Co. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on EW shares. Wolfe Research lowered Edwards Lifesciences from a "hold" rating to a "strong sell" rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Edwards Lifesciences from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $90.00 in a research report on Thursday, January 30th. Piper Sandler upped their price target on shares of Edwards Lifesciences from $80.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday. Canaccord Genuity Group increased their price objective on shares of Edwards Lifesciences from $71.00 to $75.00 and gave the company a "hold" rating in a research note on Friday, April 25th. Finally, Truist Financial reduced their price objective on shares of Edwards Lifesciences from $78.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $79.60.

Insider Buying and Selling at Edwards Lifesciences

In related news, CEO Bernard J. Zovighian sold 6,164 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $69.51, for a total transaction of $428,459.64. Following the sale, the chief executive officer now directly owns 59,083 shares of the company's stock, valued at $4,106,859.33. This trade represents a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven R. Loranger sold 5,739 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $76.42, for a total value of $438,574.38. Following the completion of the transaction, the director now directly owns 60,372 shares of the company's stock, valued at $4,613,628.24. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,931 shares of company stock worth $5,148,028. 1.29% of the stock is currently owned by insiders.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.